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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The SEEK advertised salary index for October rose 0.3% m/m to be up 4.6% y/y. This was the lowest monthly increase since May, as the impact of government-mandated rises wanes, and the annual rate eased from 4.8% in the previous two months but it remains elevated and in the range seen all year. Last week RBA Governor Bullock noted that 4% wages growth was on the “high side” when there is no productivity growth. This data shows that pay offers remain high but below inflation.
- Advertised salary growth has eased towards 4% in NSW and Victoria due to softer demand for labour, according to SEEK. The strength is being seen in the other states.
- The government’s increase in pay for aged care workers has impacted the SEEK data since mid-year and the community services & development sector saw advertised pay up 8% y/y, the strongest area.
Australia SEEK advertised salary index %
Source: MNI - Market News/SEEK
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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